NBT to expand into western New York with acquisition of Evans Bancorp

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB), the parent company of NBT Bank, announced it is expanding into western New York with the acquisition of Evans Bancorp, Inc. (NYSE: EVBN). Under the deal, NBT will buy 100 percent of the outstanding shares of Evans in exchange for common shares of NBT in a transaction […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB), the parent company of NBT Bank, announced it is expanding into western New York with the acquisition of Evans Bancorp, Inc. (NYSE: EVBN).

Under the deal, NBT will buy 100 percent of the outstanding shares of Evans in exchange for common shares of NBT in a transaction valued at $236 million based on NBT’s closing stock price of $46.28 on Sept. 6. The boards of both companies unanimously approved the deal, which is expected to close in the second quarter of 2025.

Following the acquisition, NBT will have the highest deposit market share in upstate New York for any bank, with assets just under $100 billion and a network of more than 170 branches. NBT Bank currently has 154 branches across seven states, including 107 branches in upstate New York.

“We are enthusiastic about this opportunity to partner with Evans and are confident it is a high quality and incredibly impactful way to expand NBT’s presence into western New York,” NBT President/CEO Scott A. Kingsley said in a statement. “Adding the greater Buffalo and Rochester communities to the markets served by NBT is a natural geographic extension of our footprint in upstate New York where we have been very active and successful for nearly 170 years. We share strong community banking values with Evans and look forward to working with their experienced team to build on the relationships they have established with their customers, communities, and shareholders.”

Headquartered in Williamsville, Evans has assets of $2.26 billion and 18 Evans Bank, N.A. branches in the Buffalo and Rochester markets.

“We are very excited to be joining the NBT family and bringing the next generation of community banking to Buffalo, Rochester, and the Finger Lakes,” Evans President/CEO David J. Nasca said. “We believe this strategic merger offers customers and the communities we serve access to elevated financial products and relationships with a combined organization that has consistently received recognition for delivering outstanding service while creating tremendous value for shareholders. NBT is strong committed to upholding our relationship-focused approach and providing a significant suite of expanded products, services, and capabilities, including technology-enabled solutions, delivered by professionals our customers and markets have trusted. In NBT we have found a powerful partner that closely mirrors the culture and values that we have operated under throughout our long history.”

Nasca will join the NBT board of directors following the merger.

Stephens Inc. served as the financial advisor to NBT while Piper Sandler & Co. served as financial advisor to Evans. Hogan Lovells US LLP served as NBT’s legal counsel, and Wiggin and Dana LLP served as executive compensation and employee benefits counsel to NBT. Luse Gorman, PC served as legal counsel to Evans.

Community Foundation fund established in DiMeo’s memory

Mohawk Valley, Employee Benefits & Human Resources, New York News, Nonprofits, Sports, Entertainment & Tourism

UTICA, N.Y. — The Community Foundation of Herkimer and Oneida Counties has announced a new fund, in honor of a longtime economic-development leader, supporting workforce

Ryan Guerdon

People on the Move

Chimera Integrations has appointed Ryan Guerdon as chief operating officer (COO). With more than a decade of experience leading complex projects in building automation and

AmeriCU formally unveils newly renovated Cicero branch office

Mohawk Valley, Banks & Credit Unions, Construction, Design & Real Estate, Employee Benefits & Human Resources, Featured, Insurance & Financial Services, New York News, Nonprofits, Small Business, Sports, Entertainment & Tourism

CICERO, N.Y. — AmeriCU Credit Union unveiled its remodeled Cicero branch with a ribbon-cutting ceremony on Monday, Sept. 9. New interactive teller machines offer new

Guthrie Cortland Medical Center to begin emergency-department renovation project

Health Care, Construction, Design & Real Estate, New York News, Nonprofits, Southern Tier, Subscriber Only, Technology

CORTLAND, N.Y. — Guthrie Cortland Medical Center (GCMC) says it’s beginning a long-awaited, $7.2 million emergency-department (ED) renovation project. Some internal work has been underway for the past two weeks, but the public-facing portion of the 18-month project begins on Sept. 23. The project includes multiple phases. The facility’s ambulance bay will be redesigned with

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

CORTLAND, N.Y. — Guthrie Cortland Medical Center (GCMC) says it’s beginning a long-awaited, $7.2 million emergency-department (ED) renovation project.

Some internal work has been underway for the past two weeks, but the public-facing portion of the 18-month project begins on Sept. 23.

The project includes multiple phases. The facility’s ambulance bay will be redesigned with the addition of a permanent decontamination area and adjoining rooms in the event of an emergency.

It’ll also focus on patient rooms. The medical center needed more space to accommodate the more than 28,000 visits to the ED each year. The number of rooms will increase from 14 to 23, and all existing and new rooms will now be private, GCMC said.

Another phase will target the waiting room and triage. The space will be redesigned for “patient comfort and flow,” with the addition of a “Nurse First” triage model, which means every patient will initially be evaluated by a nurse to determine the best course of action, reducing wait times.

The project will also focus on behavioral-health space, including three new patient rooms, an activity room for parent or counselor meetings, and a separate nurses station.

“This will be especially critical for our pediatric population with mental health concerns,” Wendy Kolodziejczyk, director of critical-care services at Guthrie Cortland Medical Center, said in the Tuesday announcement. “This new space, away from the chaos of an emergency department, will offer our behavioral health population a safe, calm space to heal while they wait for long-term placement.”

The phased approach is designed for “minimal impact” to its patients and the emergency department will remain open during the entire project. The facility will post signage to “ensure easy navigation” for patients throughout this process and will post updates through traditional and social media.

“The Emergency Department is the face of any hospital,” Jennifeer Yartym, president of Guthrie Cortland Medical Center, said in the announcement. “We are committed to upgrading and elevating the look and feel of our facility to meet the high level of care being offered by our teams inside.”

Port of Oswego signs agreement with International Longshoremen’s Association

Sports, Entertainment & Tourism, Construction, Design & Real Estate, Employee Benefits & Human Resources, Energy, Environment & Sustainability, Featured, New York News, Nonprofits, North Country

OSWEGO, N.Y. — The Port of Oswego has signed a contract with the International Longshoremen’s Association (ILA) that’s in effect through December 2028. “Signing this

Siemens Mobility to build high-speed, rail-manufacturing facility in Horseheads, create about 300 jobs

Manufacturing & Engineering, Construction, Design & Real Estate, Employee Benefits & Human Resources, Featured, Law, Accounting & Taxes, New York News, Southern Tier, Sports, Entertainment & Tourism, Technology

HORSEHEADS, N.Y. — Siemens Mobility says it plans to build a “first-of-its-kind,” high-speed, rail-manufacturing facility in Horseheads, generating about 300 new jobs in the Southern

ANDRO awarded $5.4 million Air Force contract for high-assurance waveform capability

Technology, Law, Accounting & Taxes, Manufacturing & Engineering, Mohawk Valley, New York News, Subscriber Only

ROME, N.Y. — The Air Force Research Laboratory Information Directorate (AFRL/RI) has awarded a $5.4 million high-assurance waveform capability (HAWC) research and development contract to ANDRO Computational Solutions, LLC. The goal of the pact is to further advance the state-of-the-art in true-software-based waveform development for enhancing software-defined radio communications, networking, interoperability, and security, the company

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The goal of the pact is to further advance the state-of-the-art in true-software-based waveform development for enhancing software-defined radio communications, networking, interoperability, and security, the company says.

“The contract builds upon our ongoing efforts to help the Air Force propel innovations in true software-based waveform development and in the growth of the government’s software waveform ecosystem to support the warfighters’ needs,” ANDRO President Andrew Drozd said in a statement. “HAWC waveform technologies represent the tip of the spear in advancing communications technologies for military and commercial radio manufacturers and their products.”

ANDRO’s HAWC significantly reduces the time and cost to generate validated digital-communications waveforms for the rapid field deployment of military radio platforms. Ashwin Amanna, chief scientist-research sector, will lead the work at ANDRO’s Heisenberg Lab.

ANDRO works with large defense, aerospace, and commercial companies interested in leveraging the HAWC capability to enhance their radio-communication product lines and production services. The Rome–based company is expanding its research and development activities to serve its growing clientele base.

“This has been an exciting program to support because of the combination of hands-on engineering and meeting a real mission need,” Amanna said. “We get to work with the latest in off-the-shelf computer technology and see direct increases in our waveform capability. For the warfighter to succeed in a rapidly changing spectrum battlefield, we have to break the current dependency between the waveform and the hardware. It takes too long to implement waveforms let alone adapt them quickly.”

With its True-Soft waveform development approach, ANDRO is accomplishing data rates and implementing complex waveforms in software today that was thought impossible just 10 years ago, he added.

ANDRO provides research, engineering, and technical services to defense and commercial industries in the areas of advanced spectrum exploitation, secure wireless communications, software-based waveform development, cognitive software-defined radio networking, multisensory data fusion, and sensor resource management.

The Air Force Research Laboratory is the primary scientific research and development center for the U.S. Air Force.

Nonprofits can apply for Excellus Health Equity Innovation Awards

Health Care, Employee Benefits & Human Resources, Featured, Mohawk Valley, New York News, Nonprofits, North Country, Southern Tier, Technology

DeWITT, N.Y. — Excellus BlueCross BlueShield is accepting applications for its 2024 Health Equity Innovation Awards. The award grants provide funding to community-based organizations to

Syracuse Fire Department awarded nearly $7.6 million to hire up to 20 new firefighters

Employee Benefits & Human Resources, Featured, Law, Accounting & Taxes, New York News, Nonprofits, Subscriber Only

SYRACUSE, N.Y. — The Syracuse Fire Department will use a federal grant of nearly $7.6 million to hire up to 20 new firefighters. The FEMA grant is the largest the department has ever been awarded, U.S. Senate Majority Leader Chuck Schumer (D–N.Y.) and U.S. Senator Kirsten Gillibrand (D–N.Y.) said in their Thursday announcement. The funding

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Get our email updates

What's New

Upcoming Events

Tompkins Chamber Government & Community Affairs Roundtable

Dannible & McKee Annual Tax & Financial Planning Conference

CenterState CEO Speed Networking

CNYBJ Job Board

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get our email updates